Five Below Inc. (NASDAQ: FIVE) shares climbed more than 5% intra-day on thursday after the value-focused retailer reported third-quarter results that sharply beat analyst forecasts, supported by robust comparable sales growth and an ongoing store expansion push.

For the quarter ended November 1, 2025, the company reported adjusted earnings of $0.68 per share, well above the analyst consensus of $0.23. Revenue surged 23.1% year over year to $1.038 billion, topping expectations of $972.43 million. Comparable sales increased 14.3% from the same period a year earlier, underscoring broad-based strength in the business.

Five Below continued to grow its physical footprint, opening 49 net new locations during the quarter. The retailer ended the period with 1,907 stores across 44 states, representing a 9.0% increase in store count versus the prior year.

On the back of the strong performance, the company raised its fiscal 2025 outlook. It said it now expected full-year revenue in a range of $4.62 billion to $4.65 billion, with adjusted earnings per share projected between $5.71 and $5.89.

For the fourth quarter, Five Below forecast revenue of $1.58 billion to $1.61 billion, above market expectations of $1.55 billion, and projected adjusted EPS of $3.36 to $3.54, ahead of the consensus estimate of $3.28.